Look how strong GBP is. Overview for 31.03.2023
The British pound against the US dollar continues growing. The current quote is 1.2365.
Apart from the weakness of the USD, the pound has a mighty domestic driver for growth.
In particular, Britain has agreed to join a Trans-Pacific Partnership (CPTPP). London has already called it the biggest trade since Brexit. CPTPP has started working in 2018. It is a free-trade agreement between the participating countries, including Australia, Canada, Chile, Mexico, and more. Britain is becoming the first European country to join the structure.
Rishi Sunak, the British Prime Minister, has called this decision a historical step. The government thinks that this measure will let the economy grow by 1.8 billion GBP (2.2 billion USD) in the long run.
Brexit has seriously harmed the British economy, mostly deteriorating trade relations that were already fragile. But now there is a hope for forming new ones.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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